LONDON, Sept 22 - Sterling dipped against the dollar and euro on Friday, as weak business activity and retail data kept the currency on the back foot and traders tapered bets on future interest rate hikes after the Bank of England held rates the previous day.
The preliminary reading for the services sector dropped to 47.2 from 49.5 in August, further below the 50 dividing line between growth and contraction. "It's a story of weak growth for the UK," said Lee Hardman, senior currency analyst at MUFG."Whether we go into a recession remains to be seen."
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